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ZERO COUPON BONDS

Income Tax - Tax Liability in special Circumstances / Specific Cases - 15 - MEANING OF As per Section 2(48), Zero coupon bond means a bond- Issued by any infrastructure capital company or infrastructure capital fund or public sector company or scheduled bank; In respect of which no payment or benefit in received or receivable before maturity or redemption and Which the Central Government notifies in the Official Gazette. TAX TREATMENT IN THE HANDS OF INVESTOR Maturity/Redemption of will amount t .....

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aturities of less than one year and are called bills TAX TREATMENT IN THE HANDS OF COMPANY ISSUING SUCH BONDS Discount is deductible on pro rata basis u/s 36(1)(iiia) over the life of zero Coupon Bond.. Tax will not be deducted at source under section 194A by the payer company. COMPUTATION OF PRO-RATA AMOUNT OF DISCOUNT ON A ZERO COUPON BOND DEDUCTIBLE UNDER SECTION 36(1)(iiia) For the purposes of section 36(1)(iiia), the pro-rata amount of discount on a zero coupon bond shall be computed as und .....

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